Oceanic customers to get refund

Customers of Oceanic Time Warner Cable who subscribe to The Movie Channel and Showtime will receive a credit for programming they did not receive during August, officials from the state Department of Commerce and Consumer Affairs Cable Television Division said Thursday.

Subscribers with one of the channels will receive a credit of $15.95, while those subscribing to both channels will receive $25.90. The credit should appear on their next bill.

The credit is the result of a Sept. 2 agreement between CBS Corp., which owns Showtime and The Movie Channel, and Time Warner Cable, resolving a dispute between the companies.

Subscribers with any questions can call Oceanic at 643-2100 statewide.

Twitter says it has filed IPO documents

NEW YORK » Twitter is going public. The short messaging service says it has filed confidential documents for an initial public offering of stock.

San Francisco-based Twitter Inc. posted on its official Twitter account that it has "confidentially submitted an S-1 to the SEC for a planned IPO."

Twitter’s IPO has been long expected. The company has been ramping up its advertising products and working to boost ad revenue in preparation.

30-year mortgage rate steady at 4.57%

WASHINGTON » Average U.S. rates on fixed mortgages held steady this week, hovering near two-year highs. But rates could change quickly next week when the Federal Reserve addresses its bond purchase program.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan was unchanged from last week at 4.57 percent, just below the two-year high of 4.58 percent reached Aug. 22. The average on the 15-year fixed mortgage held at 3.59 percent. The two-year high of 3.60 percent was hit Aug. 22.

Long-term mortgage rates have risen more than a full percentage point since May, when Chairman Ben Bernanke first signaled that the Fed could reduce its bond purchases this year. The purchases have been intended to keep long-term loan rates extremely low.

Fewer homes enter foreclosure track

LOS ANGELES » Lenders initiated foreclosure action in August against the fewest U.S. homes for any month in nearly eight years, a trend that should help reduce the number of homes lost to foreclosure in the months ahead.

About 55,775 homes entered the foreclosure process last month, a decline of 8 percent from July and down 44 percent from August last year, foreclosure listing firm RealtyTrac Inc. said Thursday.

The national slowdown in foreclosure starts reflects an improving housing market, steady job growth and fewer troubled loans dating to the pre-housing bubble days.

Ease off on chemicals, Walmart says

NEW YORK » Walmart announced Thursday that it will require its suppliers to phase out 10 hazardous chemicals from personal care products, cosmetics and cleaning products sold in its stores.

It will also require the suppliers to disclose chemicals in those products.

The moves follow an announcement made by Procter & Gamble Co., the world’s largest consumer product maker, earlier this month that it will eliminate phthalates and triclosan from its beauty products by 2014.

On the Move

Aio, the parent company of Obun Hawaii, has announced the promotion of Vince Watabu to Hawaii sales manager for Asia markets. Before joining Obun Hawaii 20 years ago, Watabu served as a sales manager and board member for Affinity Inc.

Aston Hotels & Resorts has announced Alvin Park has been named marketing coordinator of its sales, marketing and revenue management 
department. His experience includes interning in public relations and communications with Starwood Hotels & Resorts.